Scott:
My suggestion is that you re-design the tool rack under your lathe. In my opinion, it is fundamentally unsafe and is an accident waiting to happen.
ALL sharp ends of tools mounted in racks should never have the opportunity to come in contact with the operator at the operator position. I can only imagine the injuries involved with accidentally slipping and falling into that rack; even walking past or brushing against the exposed ends of those tools establishes much too great of a risk of operator injury.
PLEASE try to find another way to store your tools conveniently and SAFELY. I can't, in good conscience, see that tool rack in the image and not comment about it. I care about the safety of all of our turning brothers and sisters, and strongly suggest removing the tools from it now, or at least turn them so the sharp ends are pointed down and into the rack.
Just trying to keep you enjoying woodturning, uninjured, for a very long time....
Rob Wallace, Chair
AAW Safety Committee